Too early to declare winners on banking strategy

Investment banks face a tough few years of proving themselves before their final day of reckoning

By

William Wright

January 6, 2014 Updated: January 7, 2014 12:53 p.m. GMT

A few years ago a senior investment banker was on holiday on a remote Scottish island. With no mobile phone reception and desperate for news from the City, he walked for miles to the island’s only post office to buy a newspaper. When he finally got there, he found that the only newspapers available were a day old. “I’d like to buy today’s newspaper, please,” he said to the shopkeeper. “Well I’m afraid you’ll have to come back tomorrow,” she replied.

So it is with gauging the pecking order of investment banks. After more...